IMAX (NYSE:IMAX) Given New $35.00 Price Target at Rosenblatt Securities

IMAX (NYSE:IMAX) had its price objective boosted by stock analysts at Rosenblatt Securities from $28.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 28.52% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Barrington Research raised their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. Roth Mkm upped their price target on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of IMAX in a report on Friday, January 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

IMAX Trading Up 0.8 %

NYSE IMAX opened at $27.23 on Thursday. IMAX has a 12 month low of $14.90 and a 12 month high of $27.38. The stock has a market cap of $1.43 billion, a PE ratio of 61.90, a P/E/G ratio of 1.49 and a beta of 1.22. The stock’s 50 day moving average is $24.63 and its 200 day moving average is $22.93.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 7.53% and a net margin of 6.74%. On average, analysts forecast that IMAX will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 in the last ninety days. 24.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IMAX. Janney Montgomery Scott LLC raised its position in IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares in the last quarter. Blue Trust Inc. increased its stake in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the period. MetLife Investment Management LLC raised its holdings in shares of IMAX by 3.4% in the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after acquiring an additional 848 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in IMAX by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock worth $625,000 after acquiring an additional 905 shares during the period. Finally, US Bancorp DE grew its holdings in IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after acquiring an additional 1,452 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.